Ferrari Launches First Electric ‘Luce’ Five-Seater, Shares Drop 6%
Ferrari has launched the Luce, its first fully electric car and first five-seater, marking the company’s entry into the luxury EV market.
SociapaHQ
Ferrari has revealed the "Luce," its first all-electric vehicle, a radical shift for the luxury sports car maker known for its high-performance combustion engines.
The car was unveiled in Rome and also marks Ferrari’s first five-seater model as the company enters the premium electric vehicle segment.
The Luce, meaning “light” in Italian, was created in partnership with LoveFrom, the creative agency founded by former Apple design chief Jony Ive, and took almost five years to develop, CNBC reported.
All the important parts of the car were designed and made by Ferrari in its own workshops in Maranello, the company said.
The electric model is priced at some €550,000 ($640,000) and deliveries to customers are expected to start in the fourth quarter.
Also Read: India Honours Ad Veteran Piyush Pandey With Posthumous Padma Bhushan
Ferrari’s EV Era:
Ferrari said the Luce is powered by Ferrari-developed electric motors that can accelerate the car from 0 to 60 mph in about 2.5 seconds and reach a top speed of nearly 192 mph.
Unveiling the car, Benedetto Vigna said the launch marked the beginning of “a new chapter” in Ferrari’s history.
The company took new technology with “respect” but made sure the design evolved with customer expectations and Ferrari’s brand identity, Vigna said in an interview with CNBC.
Shares of Ferrari fell 6.3 percent in Tuesday morning trading despite the significance of the launch and recovered some of their losses later in the session.
The company’s stock has fallen almost 27 percent in the last year.
Also Read: Samsung Faces Fresh Labour Dispute Over AI-Linked Bonus Pay Deal
Luxury EV Shift:
Analysts attributed the market reaction to mixed comments on the design of the vehicle and wider concerns among investors about Ferrari’s move to electric vehicles.
Michael Field, chief equity strategist at Morningstar, said some Ferrari fans feel the shift to electric vehicles does not fit with the traditional values of engine noise, performance and classic styling. “Some of the Ferrari enthusiasts see this as a departure from what Ferrari is all about,” Field told CNBC.
Ferrari clarified it will make petrol and hybrid models in conjunction with its new electric car as it slowly develops its electrification strategy.
The launch underscores how even heritage luxury automotive brands are increasingly adapting to global shifts toward electric mobility while attempting to maintain longstanding brand identity and performance positioning.
